Make School Refund Policy

This page describes Make School’s refund policy for students who have financed tuition or living expenses with an Income Share Agreement (ISA).

Students may withdraw from the school at any time after the cancellation period defined in their Enrollment Agreement and receive a pro rata tuition refund if they have completed 60 percent or less of the scheduled days in the current payment period in their program through the last day of attendance. If the student has completed more than 60% of the period of attendance for which the student was charged, the tuition is considered earned and the student will receive no tuition refund.

For the purpose of determining a refund, a student may be deemed to have withdrawn from a program of instruction when any of the following occurs:

  • The student notifies the institution of the student’s withdrawal or as of the date of the student’s withdrawal, whichever is later.
  • The institution terminates the student’s enrollment for failure to maintain satisfactory progress; failure to abide by the rules and regulations of the institution; absences in excess of maximum set forth by the institution; and/or failure to meet financial obligations to the School.

For the purpose of determining the amount of the refund, the date of the student’s withdrawal shall be deemed the last date of recorded attendance.

Tuition ISA refunds will be applied to the outstanding Payment Term described in the Tuition ISA. The new Payment Term will equal the original Payment Term, divided by the number of days in the period of attendance (year 1 or year 2) for the Product College, multiplied by the number of days scheduled to attend, prior to withdrawal. The new Payment Term will be rounded down to the nearest month after the refund has been applied.

For example, if your Tuition ISA’s Payment Term is 36 months and you withdraw after attending 20% of the scheduled days of instruction in the period of attendance, your Payment Term will be reduced to 7 months, rounded down from 7.2 months. Note that your Income Share Percentage will not change.

Living Assistance ISA refunds will be applied to the outstanding Payment Term described in the Living Assistance ISA. The new Payment Term will equal the original Payment Term, divided by the total Funding Amount, multiplied by the amount of funding disbursed to the student, prior to withdrawal. The new Payment Term will be rounded to the nearest month after the refund has been applied.

For example, if your Living Assistance ISA’s Payment Term is 60 months and you withdraw after 66% of the total Funding Amount was disbursed to you, your Payment Term will be reduced to 40 months, rounded from 39.6 months. Note that your Income Share Percentage will not change.

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